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Action Plan to prevent money laundering and terrorist financing

The EC has presented an all-embracing new Action Plan which aims to close any remaining loopholes in existing EU anti-money laundering and counter terrorist financing rules. The Plan includes proposed legislation to create a single EU rule book on areas to be regulated at EU level and to create a new EU AML supervisory [...]

By |2020-06-25T10:44:02+00:00June 25th, 2020|Anti-Money Laundering|Comments Off on Action Plan to prevent money laundering and terrorist financing

Anti-Money Laundering: Consultation on Future EU Legal Framework

The Commission has outlined its ideas for updating the existing EU regulatory framework to combat money laundering and terrorist financing. Published on the 12th February, the roadmap identifies a number of deficiencies in the current system including inadequate application of EU AML rules by lawyers and accountants, and deficient supervision by national supervisors. In [...]

By |2020-03-17T11:35:34+00:00March 17th, 2020|Anti-Money Laundering, Top News, Top Stories|Comments Off on Anti-Money Laundering: Consultation on Future EU Legal Framework

Anti-Money Laundering – Commission Recommendations for Better Enforcement

The Commission adopted a Communication and four reports on the 24th July that assess the effectiveness of current EU measures to fight money laundering in the EU. The assessment identified divergences in the application of EU legislation and vulnerabilities including anonymous products, identification of beneficial owners and new unregulated products such as virtual assets. [...]

By |2019-09-01T10:58:56+00:00September 1st, 2019|Anti-Money Laundering, European Commission, Top News|Comments Off on Anti-Money Laundering – Commission Recommendations for Better Enforcement